Entering the year, there were a few cryptocurrencies that boasted immense potential to rapidly increase over the next twelve months. Although the market suffered through a slow start, things are starting to turn around. Now, Cardano looks to be back on the mend, with ADA potentially targeting $5 in 2025, which could be driven by a returning US President.
Indeed, US President-elect Donald Trump has not been shy about his high hopes for the cryptocurrency industry. Moreover, reports note that he is expected to begin overhauling crypto policy almost immediately. Yet, Cardano is in a rather unique situation. Specifically, its founder, Charles Hoskinson, has recently shared that he may be called upon to serve in the inaugural US Crypto Council.
Also Read: Cardano & Ripple to Partner? ADA Eyes RLUSD Integration
Cardano Jumps Another 11% as Trump Inauguration Has ADA Holding Onto $5 Dream
The cryptocurrency market has already enjoyed a monumental 2024. The asset class experienced unprecedented intrigue and interest. Moreover, the presence of two crypto-based ETFs catapulted the leading cryptocurrency to a six-figure price. The asset seemingly broke new ground in the process.
Yet, the heights of last year could pale in comparison to what this year could bring. Among the greatest benefactors could stand Cardano, as ADA may target $5 on the heels of a burgeoning connection to pro-crypto US President-elect Donald Trump.
Eralier this year, Cardano founder Charles Hoskinson noted that he was in the running to join Trump’s developing crypto council. The commission would comprise 24 individuals within the tech sector and would shape digital asset legislation in the country.
🇺🇸 President-elect Donald Trump is creating a 24-person crypto council to shape the digital future.@IOHK_Charles discusses his involvement in organizing the team, which will collaborate with the CFTC, SEC, and Treasury. pic.twitter.com/pjr2rWIlRq
— CryptosRus (@CryptosR_Us) January 13, 2025
Also Read: Cardano Up 77% in 2024 Amid Drop: What to Expect From ADA in January
That could allow increased connection and exposure for Cardano and ADA. Meanwhile, it has already been dominant this year. The crypto is up more than 9% over the last 24 hours to trade above the $1.06 mark, according to CoinMarketCap.
With an 11% jump over the last seven days taking place, ADA is certainly expected to soar this year. But just how high will it go? Well, cryptocurrency price prediction platform CoinCodex has lofty expectations for Cardano. Specifically, they project that ADA will reach a yearly high of $5.56 in August of this year. Indeed, that would mark a 424% jump from its current position.
